“You Retire Once… I Help People Retire Everyday”
November was another fantastic month for investors.
Amidst all the election news, the Federal Reserve’s November meeting almost went under the radar. The good news is that the Fed didn’t give the market any surprises.As widely expected, they cut the federal funds rate by another 0.25%-points, taking it down to the 4.5-4.75% range. Fed Chair Powell pointed out that this is simply ongoing recalibration of interest rate policy – policy is still restrictive even as inflation continues to move to their target of 2%. The labour market has cooled off quite a bit, but they don’t want to see any more softening. They believe the employment situation is solid and want to keep it that way. All of which is very positive.
How did this impact investment markets? Overall, very positive especially for North American equity markets. Canada as measured by the S&P/TSX notch a return of just north of 6%. South of the border, the S&P 500 ended November with gains on eight of the final nine trading days of the month. The gain in the S&P 500 in November marked the best month of 2024 so far:
Click on the attachment below to read our full monthly insights where I recap the month of November, discuss where markets perhaps go from here after what looks to be another 20% plus return year and what investors could expect as we turn into the home stretch of 2024.
Could a Santa Claus Rally be in the cards?
Thanks for the continued trust and faith you put in both myself and Sterling Mutuals. My commitment to you, a valued investor and partner, is and always will be to continue to share my unbiased opinion of what is really happening. Part of my value add to clients is putting context into what is happening in the economy and financial markets which in turn helps clients become well informed, better educated, and ultimately successful long-term investors.
Stay tuned as I plan to put together a 2025 Market Outlook which should find its way to your inbox later this month. Regardless of the path ahead, you can be confident that you have an investment professional in your corner who is committed to your success every step along the way.
Thanks for reading. AP
